European Bank unveils five-year investment strategy for Turkey
Date
11/14/2024 7:49:46 AM
(MENAFN) The European Bank for Reconstruction and Development (EBRD) has outlined its strategic investment focus in Turkey for the next five years, aiming to accelerate the green transition, enhance Turkey’s global competitiveness, and strengthen infrastructure and regional integration through 2029.
In the past five years, the EBRD has invested around 10 billion euros (USD10.6 billion) in Turkey, including USD2.6 billion last year, a portion of which was allocated to the earthquake-affected southeast near the Syrian border, which was struck by a 7.8 magnitude earthquake in February 2023.
The bank’s primary objective for the coming years is to support green transition and climate initiatives, with pledges to promote renewable energy integration, improve resource efficiency, drive decarbonization, enhance sustainable municipal services, and increase climate resilience.
As a secondary priority, the EBRD aims to develop Turkey human capital by advancing gender equality and regional inclusion. Investments will focus on expanding access to skills development, promoting gender equality, encouraging inclusive economic participation, and addressing regional inequalities.
The EBRD also emphasized plans to partner with donors and organizations to help reintegrate earthquake-impacted areas into Turkey’s broader economy, prioritizing “building back better” and providing business advisory services in affected regions.
Elisabetta Falcetti, EBRD Managing Director for and the Caucasus, explained to Anadolu that country strategies serve as roadmaps, guiding private sector involvement and shaping policy dialogues.
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